The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Affiliated Managers Group (AMG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Affiliated Managers Group is one of 870 companies in the Finance group. The Finance group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Affiliated Managers Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AMG's full-year earnings has moved 2.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AMG has returned 8.5% so far this year. Meanwhile, the Finance sector has returned an average of 8.5% on a year-to-date basis.
Another stock in the Finance sector, Palomar (PLMR), has outperformed the sector so far this year. The stock's year-to-date return is 37.6%.
The consensus estimate for Palomar's current year EPS has increased 5.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Affiliated Managers Group belongs to the Financial - Investment Management industry, a group that includes 36 individual companies and currently sits at #82 in the Zacks Industry Rank. On average, this group has lost an average of 4% so far this year, meaning that AMG is performing better in terms of year-to-date returns.
Palomar, however, belongs to the Insurance - Property and Casualty industry. Currently, this 43-stock industry is ranked #145. The industry has moved +5% so far this year.
Affiliated Managers Group and Palomar could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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Affiliated Managers Group, Inc. (AMG): Free Stock Analysis Report Palomar Holdings, Inc. (PLMR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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